NIFTY – STRUCTURAL UPDATE (Daily)

(EwavesJournal View)

━━━━━━━━━━━━━━━━━━━━━━

🧭 Overview

This is a structural update on NIFTY based on the daily timeframe. This is not a trading call, but a higher-timeframe structure assessment.

━━━━━━━━━━━━━━━━━━━━━━

📐 Structure Position

NIFTY has completed a strong impulsive advance and is currently in a corrective consolidation phase near the highs. The broader bullish structure remains intact.

━━━━━━━━━━━━━━━━━━━━━━

🧠 Market Context

After a sustained uptrend, the index is correcting through time rather than depth. Overlapping price action suggests consolidation and digestion, not trend reversal.

Intraday spikes, sharp dips, and volatility-driven moves are not treated as structural signals in this analysis and are considered part of the ongoing consolidation process.

━━━━━━━━━━━━━━━━━━━━━━

🎯 Key Zones & Levels

• ⛔ Upper Supply / Range High: 26,200 – 26,300

• 🟢 Key Support / Range Floor: 24,300 – 24,350

• 🧱 Major Structural Support (HTF): 21,740

As long as price holds above the key support zone, the higher-timeframe bullish structure remains valid.

━━━━━━━━━━━━━━━━━━━━━━

🔮 Expected Behaviour

• Sideways / range-bound movement likely

• Time-based consolidation favoured

• Intraday volatility and false moves possible within the range

━━━━━━━━━━━━━━━━━━━━━━

🔄 Continuation Triggers

• Bullish continuation: Sustained daily close above 26,300

━━━━━━━━━━━━━━━━━━━━━━

⚠️ Invalidation / Risk Levels

• Structure weakens: Sustained daily close below 24,300

• Deeper corrective phase opens only below 21,740

━━━━━━━━━━━━━━━━━━━━━━

✅ Conclusion

NIFTY remains in a bullish higher-timeframe structure and is currently undergoing a healthy consolidation phase. Patience is required until structure resolves.

━━━━━━━━━━━━━━━━━━━━━━

📌 Disclaimer

This analysis is for educational and informational purposes only. It represents a structural market view, not a trading or investment recommendation. Markets involve risk; manage risk according to your own judgment.

#NIFTY #MarketStructure #TechnicalAnalysis

#PriceAction #TrendAnalysis #EwavesJournal

https://www.tradingview.com/chart/NIFTY/VJR398RG-NIFTY-Structural-Update-Daily/